Dril-Quip, Inc. (NYSE:DRQ) Short Interest Up 7.4% in June

Dril-Quip, Inc. (NYSE:DRQ) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 1,160,000 shares, a growth of 7.4% from the May 31st total of 1,080,000 shares. Based on an average daily volume of 272,400 shares, the days-to-cover ratio is presently 4.3 days. Currently, 3.4% of the shares of the stock are sold short.

Dril-Quip Stock Performance

Shares of DRQ stock opened at $18.59 on Thursday. The business has a 50-day moving average of $18.49 and a 200 day moving average of $20.76. Dril-Quip has a 1-year low of $16.64 and a 1-year high of $30.93.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share for the quarter. Dril-Quip had a negative net margin of 4.89% and a negative return on equity of 2.98%. The company had revenue of $110.30 million for the quarter. As a group, equities analysts anticipate that Dril-Quip will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Dril-Quip

A number of large investors have recently added to or reduced their stakes in the company. Partnership Wealth Management LLC boosted its holdings in Dril-Quip by 6.8% in the second quarter. Partnership Wealth Management LLC now owns 21,381 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 1,360 shares in the last quarter. Deutsche Bank AG boosted its stake in Dril-Quip by 9.8% in the 3rd quarter. Deutsche Bank AG now owns 16,701 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,490 shares in the last quarter. Quadrature Capital Ltd grew its position in Dril-Quip by 7.1% during the 4th quarter. Quadrature Capital Ltd now owns 24,443 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 1,612 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Dril-Quip by 37.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 2,569 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Dril-Quip by 15.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock worth $502,000 after buying an additional 2,867 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays dropped their target price on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, May 14th. StockNews.com raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company's principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.